126 DEAN GRAZIOSI
When do you get your money? This is a popular question, and one you should have already had answered by your buyer at this point. Some arrangements call for the investor to pay you at the time of the transfer. Others state that you’ll be paid at closing. We all know which is best for you. However, aren’t you going to just have to go with whatever the investor buyer says? Not necessarily. You will if this is your only buyer, or the only one interested in this deal. However, if you have a nice list of buyers, and you always have more than one wanting the great deals you deliver, then you have some bargaining power. With competition for your deals, you can negotiate better payment terms. If you are getting paid at closing, it can be a part of the closing process and the check written by the title company or closing attorney. If you’re getting paid at the time of the transfer, it can be as simple as the investor writing you a personal check. What if it bounces? We’ve never heard of this happening, but there are bad check laws to help you and you still have time before closing to talk about it with your buyer. It’s never happened to Matt though. If you have depth in your buyer’s list, you may want to consider getting paid by the end buyer when they accept the deal, not when they close the deal. If you have done everything expected of you and your end buyer likes the deal, they should pay you when they approve the deal, whether they close or not. I can’t make this complicated; it’s a really simple thing. You find the buyer, you find the deal, and you use an assignment contract to pass the deal from the seller to the buyer. You cash your check. Everything you’ve read in this book up to this point is about creating a system and the system takes the guesswork out of it by providing the tools you need to make it this simple.
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